Commercial Property for Sale 2018 YTD Report for Culver City

The Commercial Property for Sale in the Culver City Submarket of West Los Angeles continues to rise steadily. The following summary report shows the 2018 year to date sales of office, retail, and commercial properties as reported by CoStar. These properties represent the top 3 highest priced closed sales transactions for this year for each property category. Despite solid price increases in the past few years, the Culver City market continues to show strong price growth with no signs of cooling down. Because of several major developments currently under construction property values should increase well into 2019, as long as the regional and national economy remains robust.

The median price per square foot is probably the most accurate gage of the current market pricing. Industrial is $517.27. Office is $700.00. Finally, retail reigns supreme at $835.82. Even though Toys ‘R Us and other large brick and mortar retailers are going out of business, retail property prices remain high and perhaps the plethora of mixed use developments with ground floor retail and given them an unexpected price boost. Surprisingly, Office is still relatively affordable compared to other submarkets on the Westside. Industrial properties are a scarcity anywhere on the Westside with creative offices taking over. Industrial property at over $500 per square foot must to shocking to other parts of the country, but that is the market reality of large urban commercial real estate sales in 2018.